Raytheon awards $500,000 to Canadian universities

US defence contractor Raytheon has awarded Dalhousie and Memorial universities grants totalling $500,000 (£300,000) to advance research in the aerospace industry.

The investment comes as a result of Canada’s Industrial and Regional Benefits policy, which requires prime contractors to make investments in the Canadian economy valued at 100 per cent of the contract value as an element of defence and security procurements made by Canada.

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